GST waiver from bank guarantee on executing bond: exporters may submit bonds without BG subject to specified exclusion criteria. Authority is delegated to Jurisdictional Deputy or Assistant Commissioners to waive bank guarantees and accept bonds without bank guarantees for exports, subject to exclusions: prosecution for tax evasion; fresh registrants ineligible for LUT; prior breach of bond conditions; failure to deposit collected tax/duty; default in filing required returns; and default in payment of revenue arrears where no appeal is pending or dispute is final. A prescribed self declaration confirming none of these exclusions applies must be obtained when accepting a bond without a bank guarantee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
GST waiver from bank guarantee on executing bond: exporters may submit bonds without BG subject to specified exclusion criteria.
Authority is delegated to Jurisdictional Deputy or Assistant Commissioners to waive bank guarantees and accept bonds without bank guarantees for exports, subject to exclusions: prosecution for tax evasion; fresh registrants ineligible for LUT; prior breach of bond conditions; failure to deposit collected tax/duty; default in filing required returns; and default in payment of revenue arrears where no appeal is pending or dispute is final. A prescribed self declaration confirming none of these exclusions applies must be obtained when accepting a bond without a bank guarantee.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
